Short Interest in EuroDry Ltd. (NASDAQ:EDRY) Decreases By 44.4%

by · The Cerbat Gem

EuroDry Ltd. (NASDAQ:EDRY – Get Free Report) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,000 shares, a decline of 44.4% from the September 15th total of 1,800 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 5,400 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Noble Financial upgraded shares of EuroDry to a “strong-buy” rating in a research report on Monday, July 29th.

View Our Latest Research Report on EuroDry

EuroDry Stock Performance

EDRY stock traded down $0.51 during midday trading on Friday, reaching $20.15. 3,158 shares of the company’s stock traded hands, compared to its average volume of 8,925. The firm has a market capitalization of $57.23 million, a PE ratio of -23.84 and a beta of 0.78. The company has a 50-day moving average price of $20.45 and a two-hundred day moving average price of $21.42. EuroDry has a 52 week low of $14.46 and a 52 week high of $24.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.84 and a current ratio of 0.98.

EuroDry (NASDAQ:EDRY – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.75). EuroDry had a negative net margin of 4.11% and a negative return on equity of 2.08%. The company had revenue of $17.44 million for the quarter, compared to the consensus estimate of $17.89 million. As a group, equities analysts anticipate that EuroDry will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in EuroDry stock. Renaissance Technologies LLC increased its stake in EuroDry Ltd. (NASDAQ:EDRY – Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,100 shares of the company’s stock after acquiring an additional 900 shares during the period. Renaissance Technologies LLC owned about 1.94% of EuroDry worth $1,353,000 as of its most recent SEC filing. 2.44% of the stock is currently owned by hedge funds and other institutional investors.

EuroDry Company Profile

(Get Free Report)

EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. It owns and operates a fleet of drybulk carriers that transport major bulks, such as iron ore, coal, and grains; and minor bulks, including bauxite, phosphate, and fertilizers. The company fleet consisted of 13 drybulk carriers comprising five Panamax drybulk carriers, two Kamsarmax, five Ultramax drybulk carriers, and one Supramax drybulk carrier with a total cargo carrying capacity of 918,502 dwt.

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